Once a Crypto Skeptic, Klarna Introduces Its Own Stablecoin
As the race to compete in cross-border payments increasingly shifts toward stablecoins, Klarna has announced its own version, the KlarnaUSD. Despite Klarna’s CEO previously saying the company would be the last major fintech to enter crypto, it appears Klarna felt it had little choice if it wanted to keep pace with competitors in the cross-border arena.
Best known for its buy now, pay later offerings, Klarna will issue the new token on a blockchain developed by Stripe. For now, KlarnaUSD will be used solely for the company’s settlement flows. The stablecoin is expected to be available for both merchant and consumer payments sometime next year.
Klarna said the move to a stablecoin will allow it…
